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Editorials on the mortgage industry crisis.
The following editorial appeared in the Philadelphia Inquirer on Tuesday, Sept. 4:
GET HELP TO HOMEOWNERS
The loan companies tripped up by the subprime-mortgage crisis _ a crisis of their own making in many cases _ have found help. The financial markets and the Federal Reserve Board are sending more money their way.
The Fed has opened its discount window wider to banks seeking loans; one of the biggest and worst-hit mortgage lenders, Countrywide, has found a savior in Bank of America.
It's a different story for homeowners ensnared in these risky loans, which in many cases were thrust upon them by fee-hungry brokers working for the lenders. There's been much talk but little action for homeowners. And the worst is likely yet to come.
Many of the most egregious loans were made in 2006. Their interest rates are due to reset at potentially unaffordable levels beginning in the fall. Default and foreclosure rates could mushroom.
President Bush belatedly acted on Friday, announcing a new FHA refinancing program and promising tax relief. But mostly he left struggling homeowners to the mercy of lenders. ...
Time is not on the side of distressed borrowers. Many need help now. State officials need to…
- Shoot-Out AT Gucci Gulch.(regulatory scheme for Fannie Mae and Freddie Mac)
- Magazine article from: Mortgage Banking SCHIAVONE, LOUISE L. May 1, 2001 700+ words
...revitalized regulatory scheme for Fannie Mae and Freddie Mac. After a nasty interlude...sponsored mortgage goliaths Fannie Mae and Freddie Mac, in one corner, and in...2.223 billion. Like Freddie Mac, Fannie Mae is traded on the New York...
- Fannie Mae, Freddie Mac Finance Bulk of Homes Bought by Hispanics in Miami.
- Newspaper article from: Knight Ridder/Tribune Business News February 7, 2002 700+ words
...where mortgage lenders Fannie Mae and Freddie Mac finance a larger share...Miami, 66.1 percent of Fannie Mae and Freddie Mac's loans in 2000 went...lenders fared better than Fannie Mae and Freddie Mac. The percentage of loans...
- Freddie Mac, Fannie Mae Honored by Minority-Owned Businesses.
- Magazine article from: National Mortgage News Link, Monica May 23, 2005 700+ words
DETROIT -- Freddie Mac and Fannie Mae landed spots among DiversityBusiness...000 business people. Freddie Mac landed the 45th spot while Fannie Mae camped out at No. 31...it to the top 50. "Freddie Mac and Fannie Mae have pretty high ratings...
- Fannie Mae Catches Up to Freddie Mac in Serving the Thrift Industry.
- Magazine article from: National Mortgage News March 4, 2002 700+ words
...ACB survey shows that Fannie Mae easily beat Freddie Mac when it came to the...564.9 million to Freddie Mac. Fannie Mae reaped most of its loan...billion in assets. Fannie Mae also led Freddie Mac in the smallest asset...
- Fed report says Freddie Mac, Fannie Mae failing mission.
- News wire article from: The America's Intelligence Wire December 22, 2003 700+ words
...government benefits enjoyed by Fannie Mae and Freddie Mac haven't substantially...economist Wayne Passmore. Fannie Mae and Freddie Mac enjoy such benefits as...regulatory framework for Fannie Mae and Freddie Mac, and it may provide ...
- FANNIE MAE FREDDIE MAC ANNOUNCE U.S. HOME VALUES INCREASED 3.6 PERCENT IN 1994;...
- Press release article from: PR Newswire February 2, 1995 700+ words
...year. According to the Fannie Mae/Freddie Mac Conventional Mortgage Home...the last five years. The Fannie Mae/Freddie Mac Conventional Mortgage Home...quarter by Fannie Mae and Freddie Mac. Fannie Mae and Freddie ...
- UPDATE 1-Congressman accuses Freddie Mac, Fannie Mae.
- News wire article from: The America's Intelligence Wire July 16, 2003 700+ words
...on regulatory reform of Freddie Mac and Fannie Mae due to "lack of cooperation...sponsored enterprises, Freddie Mac and Fannie Mae have a connection with...the risks and benefits Freddie Mac and Fannie Mae offer consumers. A witness...
- Financial institution insolvency: federal authority over Fannie Mae, Freddie...
- Congressional Research Service (CRS) Reports and Issue Briefs Carpenter, David H. Murphy, M. Maureen September 1, 2008 700+ words
...Introduction Background on Fannie Mae and Freddie Mac FDIC and Insolvent Banks...Priority of Claimants Overview Fannie Mae and Freddie Mac Before P.L. 110-289...Background on Fannie Mae and Freddie Mac Fannie Mae and ...
- Freddie Mac and Fannie Mae Announce Enhancements to Risk Management, Capital...
- Press release article from: PR Newswire October 19, 2000 700+ words
...intended to ensure that Freddie Mac and Fannie Mae remain among the world...financial institutions. Fannie Mae and Freddie Mac are two of the largest...enhancements announced by Freddie Mac and Fannie Mae are attached. Freddie...
- GSEs opposing HUD search for data to define 'predatory'.(government sponsored...
- Magazine article from: Origination News February 1, 2001 700+ words
...to collect more data on Fannie Mae and Freddie Mac's affordable housing...affordable housing goals. But Fannie Mae and Freddie Mac claim the proposed reporting...interested parties because Fannie Mae and Freddie Mac will look to their ...
Source: HighBeam Research, Editorials on the mortgage industry crisis.
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